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SECTION III—DESIGNATING UNITS OF GOVERNMENT PROPERTY TAX ABATEMENT POLICIES. <br /> A) By individual governmental ordinance, each designating unit of government for <br /> the Decatur Macon County Enterprise Zone shall have a uniform property tax <br /> abatement policy that follows the terms outlined below. <br /> B) City of Decatur, County of Macon,Village of Mt.Zion,Village of Forsyth and the <br /> Village of Long Creek - Non Retail/Commercial Property Tax Abatement - In no <br /> event shall any abatement of taxes on any parcel exceed the amount attributable <br /> to the construction of the improvements or the renovation or rehabilitation of <br /> existing improvements on such parcel. <br /> 1) That commencing on or after January 1,2016,taxes on real property levied <br /> by the City of Decatur, County of Macon,Village of Mt.Zion,Village of <br /> Forsyth and/or the Village of Long Creek, whichever is applicable, shall be <br /> abated on property located within the boundary of the Enterprise Zone, as <br /> certified by the Department, and upon which new improvements have <br /> been constructed as follows: <br /> a) For taxes levied in the first year of abatement: 100% <br /> b) For taxes levied in the second year of abatement: 80% <br /> C) For taxes levied in the third year of abatement: 60% <br /> d) For taxes levied in the fourth year of abatement: 40% <br /> e) For taxes levied in the fifth year of abatement: 20% <br /> Said abatements shall be for five (5) consecutive years beginning with the <br /> real estate taxes payable in the year following the first full year of a <br /> facility's commercial operation after which said improvements have been <br /> made. Abatement for a specific project will cease after the fifth year or <br /> upon expiration,termination or decertification of the Decatur Macon <br /> County Enterprise Zone,whichever is sooner. <br /> 2) The above property tax abatements shall be applicable for eligible <br /> Office/Knowledge-based,Warehouse/Distribution/Logistic(s) and <br /> Industrial/Manufacturing-based real property upon which construction, <br /> improvements, renovation or rehabilitation,for which a building permit is <br /> required, has been completed after January 1, 2016 and before the <br /> expiration,termination or decertification of the Decatur Macon <br /> County Enterprise Zone,whichever is sooner. <br /> 3) Both a minimum capital investment of One Hundred Fifty Thousand Dollars <br /> ($150,000.00) and the creation and/or retention of twenty-five (25)full- <br /> time jobs are necessary for a parcel to receive real tax abatement as <br />